Turkey’s economic confidence continues improving in June: report

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People walk in a long corridor lined by Turkish flags in a historic bazaar in the central Sultanahmet district of Istanbul on August 11, 2018. / AFP PHOTO / Yasin AKGUL

Turkey’s economic confidence index rebounded 19.1 percent month-on-month in June to 73.5 points, Turkish Statistical Institute data showed on Monday, a second month of recovery from lows caused by measures to combat the spread of the coronavirus, according to Reuters.

Economic activity had declined sharply in March and April as Ankara implemented measures to slow the virus spread. Measures were gradually eased in May and mostly lifted in June.

The index, which points to an optimistic outlook when above 100 and pessimistic when below, last stood above 100 points in March 2018.

In February the index was standing at 97.5 points with a 0.5 increase from the previous month.

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